First Citizens Bank & Trust Co. Has $1.92 Million Stock Holdings in SEI Investments Company $SEIC

First Citizens Bank & Trust Co. grew its position in shares of SEI Investments Company (NASDAQ:SEIC) by 114.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 21,324 shares of the asset manager’s stock after purchasing an additional 11,373 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in SEI Investments were worth $1,916,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in shares of SEI Investments by 59.9% during the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 12,553 shares of the asset manager’s stock valued at $974,000 after purchasing an additional 4,701 shares in the last quarter. LPL Financial LLC boosted its stake in shares of SEI Investments by 6.0% during the first quarter. LPL Financial LLC now owns 93,455 shares of the asset manager’s stock valued at $7,255,000 after purchasing an additional 5,291 shares in the last quarter. Janney Montgomery Scott LLC acquired a new position in shares of SEI Investments in the first quarter worth approximately $206,000. FORA Capital LLC acquired a new position in shares of SEI Investments in the first quarter worth approximately $990,000. Finally, Deutsche Bank AG lifted its stake in shares of SEI Investments by 41.9% in the first quarter. Deutsche Bank AG now owns 216,212 shares of the asset manager’s stock worth $16,785,000 after acquiring an additional 63,810 shares during the period. 70.59% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at SEI Investments

In related news, Director Kathryn Mccarthy sold 10,000 shares of the stock in a transaction on Monday, September 29th. The stock was sold at an average price of $85.66, for a total value of $856,600.00. Following the transaction, the director directly owned 75,641 shares in the company, valued at $6,479,408.06. This trade represents a 11.68% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Mark Andrew Warner sold 5,000 shares of SEI Investments stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $88.75, for a total transaction of $443,750.00. Following the completion of the sale, the insider directly owned 1,300 shares of the company’s stock, valued at approximately $115,375. The trade was a 79.37% decrease in their position. The disclosure for this sale can be found here. Insiders sold 60,000 shares of company stock valued at $5,254,950 over the last ninety days. Company insiders own 14.60% of the company’s stock.

SEI Investments Stock Performance

Shares of SEIC stock opened at $81.53 on Friday. The company has a market cap of $10.08 billion, a P/E ratio of 14.99, a PEG ratio of 1.23 and a beta of 0.96. The stock has a 50 day simple moving average of $86.00 and a two-hundred day simple moving average of $84.75. SEI Investments Company has a fifty-two week low of $64.66 and a fifty-two week high of $93.96.

SEI Investments (NASDAQ:SEIC) last issued its earnings results on Wednesday, October 22nd. The asset manager reported $1.30 earnings per share for the quarter, topping analysts’ consensus estimates of $1.25 by $0.05. The business had revenue of $578.51 million during the quarter, compared to the consensus estimate of $578.75 million. SEI Investments had a return on equity of 30.60% and a net margin of 31.09%.The firm’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same period in the previous year, the company posted $1.19 earnings per share. On average, research analysts predict that SEI Investments Company will post 4.86 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Weiss Ratings reaffirmed a “buy (b)” rating on shares of SEI Investments in a research note on Wednesday, October 8th. Keefe, Bruyette & Woods cut their price objective on SEI Investments from $98.00 to $93.00 and set a “market perform” rating on the stock in a research note on Monday, October 13th. Raymond James Financial lifted their price objective on SEI Investments from $118.00 to $120.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 14th. Morgan Stanley lifted their price objective on SEI Investments from $105.00 to $115.00 and gave the stock an “overweight” rating in a research note on Friday, September 19th. Finally, Piper Sandler cut their price objective on SEI Investments from $96.00 to $93.00 and set a “neutral” rating on the stock in a research note on Thursday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $104.40.

SEI Investments Profile

SEI Investments Company is a publicly owned asset management holding company. Through its subsidiaries, the firm provides wealth management, retirement and investment solutions, asset management, asset administration, investment processing outsourcing solutions, financial services, and investment advisory services to its clients.